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EIRACUBE - A fully robotized pop-up store that spans the distance between traditional shopping and online shopping
What is EiraCube?
EiraCube is a start-up company that promises to address the challenges of the global retail industry with a mix of both retail and technology intelligence. It may have an answer to some of today's major retail trends.
EiraCube is a turn-key micro shop that allows start-up companies to increase their visibility in key locations around the world. This is a fully robotized pop-up store that spans the distance between traditional shopping and online shopping. The EiraCube store is a glass cube full of digital signs that surround the top of the cube and has a stunning digital sign screen on the side that advertises your product from all angles. Customers do not have to wait in the queue to access services because they do not have to deal with people.
EIRACUBE created a framework for a fully robotized pop up shop to remove all major retail sales e-commerce concerns. Online traders who are worried about offline channels can plan their products in stores while malls worried about the shortage of customers in the store will be able to generate more people, and in this process, both are mutually beneficial.
Key participants in the platform are consumers, Online merchants and Shopping center owners or Landlords. They use the AI algorithm to rate new products and send them to pop-up stores. The state of their artistic technology called CUBE which is a new type of store will help in branding and advertising of products. This cube is equipped with 60 types of sensors that help traders collect data about consumers.
Marketplace operation as a business strategy
Marketplace operation applications provide the ability for owners of existing digital commerce sites to transform their sites into online marketplaces where multiple third-party sellers can list products and interact with buyers. These applications typically manage vendor onboarding, product catalogues, order routing, order status updates and vendor compliance with marketplace regulations.
Marketplace operation as a business strategy is attracting an increasing amount of attention from brands and retailers selling online. This attention is largely due to the pressure to compete with dominant online marketplaces such as Amazon, Tmall, Rakuten and others, which are attracting customers and claiming wallet share from brand and retailer core commerce sites.
Marketplace operation applications help brands and retailers develop a similar model on their core sites, where third parties list products and are responsible for inventory, shipping and logistics. This is often a difficult model for organizations to adopt, as it represents a fundamental shift away from the manner in which they’ve traditionally sold products. But the benefits of the model can be significant, with an increased number of products, higher traffic, greater revenue and lower operating costs due to the lack of inventory they need to keep. For prospective sellers, commerce sites that become marketplaces may not be as attractive as dedicated marketplaces, as they will likely have less traffic. Marketplace owners must invest in marketing to promote the site, thereby making it attractive to both merchants and buyers.
Despite concerns about the different relationship with end consumers presented by the marketplace operator model, the benefits outweigh the risks. Application leaders responsible for digital commerce should evaluate their existing catalogue and consider categories that could be augmented and complemented by third-party marketplace sellers. This augmentation of existing categories should occur before adding completely new categories that don’t align with the existing site or brand vision. When adopting the marketplace operator model, it is also important to ensure consistent customer experiences, regardless of whether the product is sold by the site owner or a third-party seller. Product specifications, ratings and reviews processes, loyalty and rewards programs, shipping/returns policies and processes, and customer service processes should all be consistent, regardless of who ultimately owns the product being sold. Application leaders responsible for digital commerce technologies who pursue marketplace operations have the option of using a solution that is dedicated to this purpose or using a module within an existing digital commerce platform that provides this functionality.
Marketplace operators also need to evaluate and understand the different pricing models available to them when administering third-party sellers. They can choose to charge listing fees, signup fees, fees based on product sales, or a combination of these options. Ultimately, marketplace operators want to encourage sellers to join the marketplace and sell products, thereby increasing traffic and sales from customers interested in third-party products. The marketplace Operation applications they build or buy should manage all aspects of vendor onboarding and vendor policy adherence. Commerce sites that successfully use marketplace operation applications will acquire an expanded product catalogue, which will result in higher customer traffic and more orders. As a result. this technology and strategy has a benefit rating of “high.”
Marketplace operation strategy and the surrounding technology are primarily applicable to brands and retailers that already offer digital commerce channels but have commerce sites that are broad enough to benefit from ancillary products beyond their core offering.
Businesses that already deal with a large number of sellers are an ideal fit, such as retailers, distributors and industrial equipment manufacturers. B2B commerce sites that onboard large numbers of vendors to serve a broad customer base are also an excellent fit for marketplace operation applications.
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